Is there any risk or problem with accepting credit card payments
to pay down a past due balance?
Answer: Yes and no. The
good news is that the debt is paid and you have your money typically
in one week or less. The bad news is that the customer can dispute the
credit card charge for at least 60 days. It is best not to accept verbal
instructions from the customer to charge a credit card. Ask/insist that
the customer put their request in writing. This way, if they subsequently
decide to dispute the charge you will have something in writing to show
to the credit card company. |